Written by: Arthur Mills, Guest Writer
We identified consistency as a key trait in any successful business in our ‘Consistency – the Business Buzz Word of 2020’ post. Consistency lets your clients know what to expect every time, it makes your operations more efficient, and it also sets a standard for your team to work towards. In a year full of unexpected changes, consistency has become a necessity. In 2020, the market needed stability and predictability, but this may no longer be the case in 2021.
While consistency is a good thing, change may be better suited for your business moving forward, as explained in an article on Chron. With most companies moving online and customer behaviors following suit, change may be the best option. Change towards the right direction gives you a competitive edge and leads you to more growth. And here are some things that you can start with:
A New Audience
Nowadays, businesses are competing in an even more competitive landscape. More brands are trying to reach similar sets of audiences, and you have to be sure that you’re able to reach yours. Trust in your data and see if you’re really hitting the right demographic. You could be offering a great product or service, but if you’re failing to reach the optimal target market, then your brand will struggle to deliver results. By identifying a segment of the market that you need to tap into, you can then create better and more relevant content, like the ones suggested by Marketing Land.
A Change of Scenery
Choosing the right location for your business has become more important than ever since the pandemic started. State governments around the country have taken measures to help small businesses, with some states having better arrangements and packages for business owners. The office of the Secretary of State of California, for example, has made a renewed push to make running a business in the state easier. Their efforts link legitimate businesses such as registered LLCs in California to a wide range of resources and grants available online—allowing them to continue to thrive. So it’s no wonder the state has the country’s largest economy, although Texas isn’t too far behind. The state is among the cheapest to run businesses in. It also has established infrastructure and a robust workforce, which businesses in Texas, including several Fortune 500 companies, benefit from. Now that you’ve established your business and have some wiggle room, it may be time to consider relocating to a state that supports your business in the long-term.
A New Marketing Strategy
The pandemic ushered in a digital revolution, and as a result, companies have had to rethink their marketing efforts. Online marketing – when done right – can boost brand awareness and eventually result in better sales. SEO specialist Darrell Zahorsky says that to maximize your online marketing efforts, you need to monitor trends and learn to integrate them into your marketing plans. You also need to sharpen your communication skills to deliver your point in a language that your audience is receptive to. There are several channels you can use to accomplish your targets online, and Forbes lists some of the best ones, which include content marketing, PPC, email marketing, influencer marketing, affiliate marketing, and SEO.
Focus on Your Staff
One of your main tasks as a business owner is cultivating a working environment that stimulates your staff. Employees who feel supported and given space for growth will provide your company with fresh energy and ideas. There are simple things you can do to give your staff that extra level of support. Business Partner Magazine cites that giving your employees a platform to voice out their ideas and treating them like equals fosters a healthy working relationship between those in the team. It also goes without saying that proper compensation and reasonable benefits should also be discussed – not just at the beginning of employment, but also periodically throughout the employee’s stay with your company. Making changes is never easy, and there will always be challenges to overcome for every company. While there’s no way of knowing for sure what 2021 will bring, your willingness and openness to change can take your business another step closer to growth and success.